Madison Investments, an investment advisor, released its “Madison Investors Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Fund (class Y) declined -1.3% compared to a -3.3% decline for the S&P 500 Index benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Investors Fund highlighted stocks like Agilent Technologies, Inc. (NYSE:A) in the third quarter 2023 investor letter. Headquartered in Santa Clara, California, Agilent Technologies, Inc. (NYSE:A) offers application-focused solutions to the life sciences, diagnostics, and applied chemical markets. On October 27, 2023, Agilent Technologies, Inc. (NYSE:A) stock closed at $102.77 per share. One-month return of Agilent Technologies, Inc. (NYSE:A) was -11.44%, and its shares lost 29.01% of their value over the last 52 weeks. Agilent Technologies, Inc. (NYSE:A) has a market capitalization of $28.717 billion.
Madison Investors Fund made the following comment about Agilent Technologies, Inc. (NYSE:A) in its Q3 2023 investor letter:
“We purchased shares in Texas Instruments and Agilent Technologies, Inc. (NYSE:A). Agilent is a leading life science tools and diagnostics company with a reputation for highly reliable chromatography and mass spectrometry instruments used for chemical measurement and analysis. Agilent serves a wide range of end markets, the largest of which is pharmaceuticals, where its instruments are used not only to discover and develop new drugs, but also to assure their quality when being manufactured. In addition to selling sophisticated analytical instruments, it also sells all the consumables and services required to run and maintain the instruments. These dynamics drive a resilient, growing revenue base that buffers the company from the inherent fluctuations in instrument demand. Over the long-term we believe Agilent’s end markets should grow at above-average rates, driven by biopharmaceuticals, electric batteries, semiconductors, and water testing, among others.”
A research laboratory showing advanced diagnostic equipment used to protect public health.
Agilent Technologies, Inc. (NYSE:A) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Agilent Technologies, Inc. (NYSE:A) at the end of second quarter which was 55 in the previous quarter.
We discussed Agilent Technologies, Inc. (NYSE:A) in another article and shared Baron Durable Advantage Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
